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Oman to Invest $7b in Indonesia

Oman has committed to invest $7 billion to build oil storage facilities, a petrochemical plant and a refinery in Indonesia, an Indonesian minister said on Thursday, Reuters reported. Oman also agreed to supply crude oil to the former Opec member but details on the amount and price were not disclosed. Energy Minister Sudirman Said said the refinery would be built in Indonesia's Riau province, with the oil products being purchased by state-owned Pertamina.